Gold analysis 08 June: after plunging Gold Potentially Recovery

Gold falls back in line with the more worthwhile NFP U.S. release in May than expected. NFP May be released at a rate of + 280k, far enough from expectations + 220k though on the other hand the unemployment rate may also had released 5.5%, higher than the 5.4% in April.

This can be interpreted as the back of a growing expectation that the FED will raise rates this year are dimming because of economic contraction of the previous period of Q1 and Q2 prospect optimisnya less. Meanwhile Greece until last weekend did not make payment to the IMF and decide to take the option of uniting the payout to € 1.6 billion single payment that would be due on June 30. Many speculate that this is just an attempt to gain more time and avoid default at this time. Greece and the lender does not seem much closer to agreement than they did last week.

Technical Analysis On the graph below H1 can be seen one of the Elliott Wave count possibility that can help you make your decision trading today.